I recently bought in on the 'change' of direction, in that at present CXY is at least showing some progress towards such. Proving up a JORC, even a maiden one is generally a value add, as is an EIS. Hopefully such will attract an equitable sale, JV or institutional investors.
Where CXY now stands on future UCG capabilities (rights, technology, IP etc) I don't know. This probably needs further clarification from new management. I expect that the Qld Gov. will announce their new Policy on UCG sometime this year, possibly sooner than later. I lean towards the positive here, albeit with stricter guidelines/conditions.
As far as the UCG Court case goes, not being privy to both sides brief, nor being a fly on the wall for the discussions, I find speculation here as fruitless at this time. My thought is even if they come to a agreement, I consider it a small probability of settling any monetary value. I consider it a higher probability that a hearing date will finally be set some time in the future. Negotiations on any settlement can always continue up until 10am that date. All such being 'without prejudice' to any hearing.
Whilst I don't expect any results for CXY in the short term, I am happy at this price to place the shares in the bottom drawer and see where we land.
As I've said before, I do hope that on the back of any good news that CXY do a 10-1 revaluation. IMO this may add more trading scope/range to CXY and assist in any future CR/SPP.
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